2024-04-20 03:30:00 ET
The Magnificent Seven -- Alphabet , Amazon (NASDAQ: AMZN) , Apple , Meta Platforms , Microsoft , Nvidia (NASDAQ: NVDA) , and Tesla (NASDAQ: TSLA) -- has continued to outperform the broader market, up 15% year to date as a group, compared to a 6% return from the Nasdaq Composite .
However, not all stocks in this group have lived up to its label recently. Shares of Nvidia and Amazon have been two of the best performers, up 76% and 20% year to date, respectively. Meanwhile, Tesla stock has fallen 37% this year, as it is struggling to grow sales of electric vehicles (EVs) amid rising interest rates.
Accelerating growth in a company's revenue and profits usually leads to superior shareholder returns, and Nvidia and Amazon still have near-term catalysts that could support higher share prices. Here's why these two Magnificent Seven stocks are still solid choices.
For further details see:
Forget Tesla: Here Are 2 Better "Magnificent Seven" Stocks to Buy in April